At the last Facebook Marketing Meetup we hosted there was a lot of talk in the room around Facebook advertising becoming more difficult than it ever was. The keywords are more expensive. The campaigns are not as effective as they use to be. I am finding it hard to grow my audience and convert them to sales. I am not getting the reach and views I use to …
There is loads more competition in the social media space than there was 5 years ago. We all know this. The businesses that started on the facebook / social media wave way back are reaping the benefits, if they kept it up and stayed agile in respect to algorithm changes.
If this wasn’t you, don’t despair, all is not lost in love and war. There is still plenty of opportunity out there. It’s just requires more strategy and less slap dash. More upfront thinking, particularly if don’t have an established brand in the market.
The best place to start is market positioning. What is going on in the market you are or want to play in? What will make you different in that market? How will communicate this difference in a unique captivating way?
It’s never been so easy to start a new business to launch a new product. Anyone can do it. ABN setup, social media account set up, website setup, product /services setup, pricing setup… So simple. And we have unlimited reach on a global scale… a lot different to the days of door knocking.
What’s not easy is creating a sustainable business model. A business that has a continual flow of customers, that runs at a profit, that isn’t reliant on specific people to be there.
Where social media and google comes in, is providing a platform that can amplify your reach, build customer awareness and build engagement, convert sales, and establish a relationship that lasts longer than the one transaction.
Access is easy. Resonance and cut-through not so easy.
What is setting the performers apart from the non-performers in leveraging the digital channels to build their business is:
- Clearly defined market position from the onset.
- Solid brand positioning – standing for something and delivering personality through brand and product communication
- Identifying your customer. Knowing your customer very well is your competitive advantage. Even in the initial stages you need to test who your customer is, and continue to test, until you hit the sweet spot, it will be completely worth it in the long run. After you have exhausted this customer base, you may then look at another customer base, i.e. your secondary market, that were more difficult to on-board, but have had exposure to your brand and products as a result of your primary customer marketing.
- Think in terms of customer flows. What journey are you taking the customer on? From not being aware of you, through to conversion, through to a loving relationship with your brand. Facebook is good at driving awareness to specific customer targeting. Google can help drive an prospect down the flow. An Amazon for example, is where consumers go to comparison shop and make a purchase. Your website is good at driving engagement, consideration, leads, conversion – and you own the data.
- The commitment to continual testing. Treating all marketing activity as a testing environment. Test, Review, Optimise. Never settling for good enough. A dedication to Kazan – continual improvement. Start small to understand the platforms you are communicating on. Not all platforms fit with every business.
- Think about building a community. Not just focusing on a one-off product sale. This will help you think laterally and help you think about creating a two-way relationship.
- When you have a clear direction, what investment are you prepared to make to achieve your business / marketing goals? What areas will provide you the optimal returns for where you want your business to go?
So where to from here…. Market Positioning.